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Private & Commercial Banking

Resources for Business Owners Impacted by COVID-19

Resources for Business Owners impacted by COVID-19 To say that the past few weeks have been unprecedented would be the biggest understatement of this very young decade.   While everyone is likely to feel some impact from…

Understanding Employee Stock Options

What are my options?  Employee stock options can be a great way to build long term wealth and participate in the growth of a company.  However, when it comes time to utilize those options there can…

What is the Best Way to Save for College?

Written by: Alice B. Womack, Associate Managing Director, Private Banking There are a variety of ways to save for college and the single best way to save is dependent on your financial picture.  Regardless of the…

Why is Prime Rate Important?

Written by: Michael Mims, Managing Director, Private banking The Prime Rate or Prime Lending Rate is generally accepted as the interest rate banks charge their best clients.  Prime Lending Rate changes anytime the Federal Open Market…

What is Cash Flow Planning?

Written by: Michael Mims, Managing Director, Private banking Cash Flow Planning is basically a strategic plan to review anticipated revenues / income and expenses / cash outflows over a defined period of time. Cash Flow Planning…

Let’s Talk About Debt

Debt is not a bad thing. In fact, it can actually be a good thing if managed properly. By ensuring that your debt is being proactively monitered you can better manage your taxes and ensure your…

How do banks make credit decisions?

Written by: Michael Mims, Managing Director, Private banking Banks are generally on the conservative end of the lending spectrum.  Clients deposit funds into banks for safekeeping, to transact business, and earn a reasonable rate of interest…

Understanding Credit Reports

The three major credit bureaus, Equifax, Experian and Transunion, use these 5 factors  to compile a credit score which banks and creditors will use to determine your eligibility for various types of loan or credit extensions.…